By Kiku Steinfeld
Chicago, April 5 – Citigroup Global Markets Holdings Inc. priced $6.57 million of contingent income autocallable securities due July 10, 2026 linked to the common stock of Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.75%, paid quarterly, if the underlying stock closes at or above its 55% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Oct. 9, 2023 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the stock closes below its 55% downside threshold level in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley will act as distributor.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Charles Schwab Corp.
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| Amount: | $6,567,000
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| Maturity: | July 10, 2026
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| Coupon: | 10.75%, paid quarterly, if the underlying stock closes at or above its 55% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically starting Oct. 9, 2023 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial level: | $56.79
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| Downside threshold: | $31.235, 55% of initial level
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| Pricing date: | July 7, 2023
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| Settlement date: | July 12, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Distributor: | Morgan Stanley
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| Fees: | 2.25%
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| Cusip: | 17291RSW3
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